Bitcoin Blasts to New All-Time High of $118,400 as Massive Short Squeeze Liquidates Bears
2025-07-11 09:58:50
Main Idea
Bitcoin reached a new all-time high of $118,400 due to a massive short squeeze, while Dogecoin surged 10% amid whale accumulation and technical breakout.
Key Points
1. Bitcoin (BTC) surged to a new all-time high (ATH) of $118,400, driven by a massive short squeeze that liquidated over $1 billion in short positions.
2. The short squeeze was fueled by weak selling pressure, with Bitcoin exchange inflows hitting their lowest levels since April 2015, amplifying the impact of whale buying on Binance.
3. Dogecoin (DOGE) rose 10% in 24 hours, breaking key resistance levels amid whale accumulation and a confirmed technical breakout.
4. Binance CEO Richard Teng announced the exchange has nearly 280 million users, highlighting its dominance in the crypto market.
5. Crypto veteran Peter Brandt warned that Bitcoin's rally could be at risk if it falls below $107,000, despite maintaining his long position.
Description
Bitcoin (BTC) has achieved a new historic milestone, surging to an all-time high (ATH) of $118,400. This dramatic price ascent was primarily fueled by an immense short squeeze, which caught bearish traders off guard and triggered widespread liquidations across the cryptocurrency market, wiping out over $1 billion in short positions, with Bitcoin contributing a significant … Continue reading "Bitcoin Blasts to New All-Time High of $118,400 as Massive Short Squeeze Liquidates Bears" The post Bitco...
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